Sales at Brown Thomas owner reach new high

Belfast Telegraph - Business Telegraph - - Ni Job Finder - BY ALYS KEYS

SALES at Sel­fridges reached £1.75bn in an­other record year for the re­tailer de­spite a “chal­leng­ing re­tail back­drop”.

The depart­ment store, which owns Dublin’s fa­mous Brown Thomas store, posted an 11.5% in­crease in sales for the year to Fe­bru­ary 3, 2018.

Op­er­at­ing profit rose to a new high of £181m.

Sel­fridges put the per­for­mance down to strong growth in ac­ces­sories after the open­ing of no­table lux­ury brands Louis Vuit­ton and Tif­fany within its Birm­ing­ham store.

The re­vamp of its Lon­don store, which in­cluded the ad­di­tion of a ded­i­cated “ac­ces­sories hall”, also helped to boost sales.

It marks the fifth year run­ning of record re­sults for the com­pany.

It also comes amid dis­tress sig­nals from fel­low depart­ment stores after House of Fraser’s col­lapse and sub­se­quent sale in Au­gust and the 99% drop in prof­its at John Lewis & Part­ners dur­ing the first half.

“We are de­lighted to de­liver such fan­tas­tic re­sults, de­spite dif­fi­cult re­tail con­di­tions and con­sumer con­fi­dence un­cer­tain­ties,” com­mented Sel­fridges man­ag­ing di­rec­tor Anne Pitcher.

“We con­tinue to chal­lenge our­selves to be dar­ing in all as­pects of our global strat­egy and to present ex­tra­or­di­nary des­ti­na­tions for our cus­tomers.”

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